Question : What is a significant impact of globalization on markets?
Option 1: Decrease in international trade
Option 2: Homogenization of consumer preferences
Option 3: Elimination of all trade barriers
Option 4: Reduction in technological innovation
Answer (1)
21st Jan, 2024
Correct Answer: Homogenization of consumer preferences
Solution : Globalization leads to the homogenization of consumer preferences, as global brands and products become widely available and popular across different cultures.
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